Hypothetical crashing levels based on Supply and Demand for BTC
I'm not invested in Bitcoin but as we all know, is the mother of all cryptos, so I keep an eye all the time about it. If you check my previous charts you will note that I'm mainly a supply and demand analyst, and I base my trades on that. We can't deny that fundamentals for BTC are bearish at the moment.
This graph just shows hypothetical levels in case of not holding 28/30k level. There are just little demands below but they are untested and likely to hit if BTC keeps falling down.
Miners move out of China will take some time, and governments are attacking cryptos in general (Remember XRP). Crypto world is in need of major fundamental positive news to change the current bias.
Trade safe and never put all your eggs in one basket.
PS: Demands in red, Supply in Blue.
This graph just shows hypothetical levels in case of not holding 28/30k level. There are just little demands below but they are untested and likely to hit if BTC keeps falling down.
Miners move out of China will take some time, and governments are attacking cryptos in general (Remember XRP). Crypto world is in need of major fundamental positive news to change the current bias.
Trade safe and never put all your eggs in one basket.
PS: Demands in red, Supply in Blue.
Comment:
Breaking below 28K it's a one ticket ride to 19.5K area... defending the 30K relentful area, will eventually takes again to 46k supply and long term to 63K monthly supply. Stay patient, don't trade with leverage